i2 buys back $50 million 5.25% convertibles

New York, Oct. 24 - i2 Technologies, Inc. said it bought back $50 million of its 5.25% convertible notes due Dec. 15, 2006.

The Dallas-based supply chain management company said $21.5 million of the repurchases was settled in the third quarter and $28.5 million in early October.

At the end of the third quarter on Sept. 30, i2 had $272.0 million of cash, down from $298.3 million at the end of the previous quarter.

"The repurchase of this debt is another important step in our plan to strengthen our overall balance sheet," said i2 chief financial officer Michael Berry, in a news release.

"We are optimistic that the combination of our cash balances, our focus on cash flow, opportunities to monetize the value of our assets, and the variety of capital sources available to us will allow us to address our outstanding debt and further establish a proper liquidity balance for i2's future."

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.